219,754 Bentley Systems, Incorporated $BSY Shares Bought by Copeland Capital Management LLC

Key Points

• Copeland Capital Management increased its Bentley Systems stake by 40.2% in the third quarter, purchasing 219,754 shares and bringing its holdings to 765,975 shares worth approximately $24.5 million.
• Institutional ownership stands at 44.16%, with several major investors—including Arrowstreet Capital and Pictet Asset Management—also significantly increasing their positions.
• Bentley Systems reported quarterly EPS of $0.35, beating estimates by $0.03, while revenue rose 12.8% year over year. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $44.38, and the company pays a $0.07 quarterly dividend.

Copeland Capital Management LLC increased its holdings in shares of Bentley Systems, Incorporated (NASDAQ:BSY - Free Report) by 40.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 765,975 shares of the company's stock after acquiring an additional 219,754 shares during the period. Copeland Capital Management LLC owned about 0.26% of Bentley Systems worth $24,473,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BSY. Swedbank AB boosted its holdings in Bentley Systems by 4.8% during the first quarter. Swedbank AB now owns 9,000,000 shares of the company's stock valued at $316,080,000 after purchasing an additional 410,799 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Bentley Systems by 253.6% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 4,781,449 shares of the company's stock valued at $167,924,000 after purchasing an additional 3,429,087 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Bentley Systems by 150.9% in the 1st quarter. Pictet Asset Management Holding SA now owns 4,661,346 shares of the company's stock worth $163,703,000 after buying an additional 2,803,241 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Bentley Systems in the 2nd quarter worth approximately $78,738,000. Finally, Bessemer Group Inc. raised its holdings in shares of Bentley Systems by 36.2% in the 1st quarter. Bessemer Group Inc. now owns 2,600,241 shares of the company's stock worth $91,320,000 after buying an additional 691,806 shares in the last quarter. Institutional investors own 44.16% of the company's stock.

Bentley Systems Stock Performance

NASDAQ BSY opened at $35.06 on Wednesday. Bentley Systems, Incorporated has a 1-year low of $28.08 and a 1-year high of $52.85. The company has a 50 day moving average of $34.26 and a 200-day moving average of $33.24. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 1.01. The firm has a market cap of $10.19 billion, a price-to-earnings ratio of 38.53, a PEG ratio of 2.19 and a beta of 0.99.

Bentley Systems (NASDAQ:BSY - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.32 by $0.03. The business had revenue of $410.73 million for the quarter, compared to the consensus estimate of $412.12 million. Bentley Systems had a return on equity of 28.43% and a net margin of 18.10%. Bentley Systems's revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.32 EPS. On average, equities analysts forecast that Bentley Systems, Incorporated will post 1.21 earnings per share for the current fiscal year.

Bentley Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 22nd were paid a $0.07 dividend. The ex-dividend date of this dividend was Tuesday, September 22nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.8%. Bentley Systems's payout ratio is currently 30.77%.

Analyst Ratings Changes

A number of brokerages have weighed in on BSY. BMO Capital Markets upped their price target on Bentley Systems from $41.00 to $43.00 and gave the company an "outperform" rating in a research report on Friday, August 7th. Cantor Fitzgerald initiated coverage on Bentley Systems in a research note on Monday, September 14th. They set an "overweight" rating and a $37.00 price objective for the company. Piper Sandler reissued an "overweight" rating and set a $45.00 price objective on shares of Bentley Systems in a report on Friday, August 7th. Weiss Ratings upgraded shares of Bentley Systems from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday, October 2nd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $50.00 target price on shares of Bentley Systems in a research note on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, Bentley Systems currently has an average rating of "Moderate Buy" and an average target price of $44.38.

Bentley Systems Company Profile

Bentley Systems, Incorporated NASDAQ: BSY develops software for the design, construction, and operation of infrastructure. Its solutions support organizations involved in transportation, water and wastewater, utilities, buildings, industrial facilities, mining, and other infrastructure sectors.

The company's product portfolio includes engineering and design applications such as MicroStation, OpenRoads, OpenBuildings, and OpenPlant, as well as ProjectWise for project collaboration and AssetWise for asset performance and operations.

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